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FAQ: What are the common questions borrowers ask once they receive an intro letter?

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Question
What are the common questions borrowers ask once they receive an intro letter?

Answer

Here are a few common questions that borrowers/claimants ask processors.  Smart Tools has a letter template titled "Claimaint FAQ-Optional Letter" that you can mail to the borrower to answer these questions for them.

Why am I due a refund?

At one time you had a loan on the property listed at 9115 CRANBERRY WAY ANCHORAGE, AK99502 and you were required to purchase mortgage insurance in the amount of  ½ percent or ½ point on themoney borrowed for the duration of the loan.  When you paid off the loan early the unused insurancepremium became due back to you.

How did you get my name?

After two years of not being able to contact you, the government puts your name on a list per theguidelines listed under the Freedom of Information Act.

Why didn’t I get my refund when I paid off/refinanced my loan?

At the time you paid off your loan documentation should have been submitted to the government.Unfortunately sometimes this documentation doesn’t always get to the right department, so the governmentsends a letter to try and contact you.  But if you moved, that letter often gets lost.

How do I get my refund now?

Please sign and notarize the Authorization Agreement I sent you, allowing me to act as your agent, and Iwill work with you to complete the documentation the government requires.  Working with me will ensurethat your paperwork is submitted to the correct government department.


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Views: 2170 Created on: May 18, 2012
Date updated: May 18, 2012

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